Budget deficits abound and past promises have been broken, irrevocably. If governments honestly valued their assets and liabilities, most would be insolvent. In the not-too-distant future, delivery of essential services will require a new mix of “skill and will” from our elected leaders and public-sector employees.
According to the M&A Advisor,[1] “often failures occur because of … the inability to retain key talent.
Commingling of funds frequently occurs in fraud cases and is notably common in Ponzi scheme cases. It occurs when funds belonging to one party are deposited into the same bank account as funds that belong to a different party. Because money is fungible, it is not possible to trace exactly which dollars belong to which party if they reside in the same bank account.
On May 15, 2017, the Supreme Court in Midland Funding, LLC v.
When the trustee of a bankrupt company sues to avoid allegedly fraudulent transfers, one threshold element that he or she must generally show is that the transfer left the debtor with “unreasonably small capital.” Recent appeals in the SemCrude and Adelphia bankruptcy cases demonstrate that this a tough showing to make.
Section 544(b)(1) of the Code enables a trustee to “avoid any transfer of an interest of the debtor in property or any obligation incurred by the debtor that is voidable under applicable law by a creditor holding an unsecured claim that is allowable under section 502....”[1] Pursuant to § 544(b), a truste
In In re Nortel Networks, Inc.,[1] the Delaware Bankruptcy Court concluded that noteholder objections to the Indenture Trustee’s attorney fees must be made “on a timely, not hindsight basis.” The court’s decision serves as sound guidance to indenture trustees that, as long as any attorney’s fees charged were reasonable and pru
In Blixseth v. Yellowstone Mountain Club, LLC,[1] the Ninth Circuit Court of Appeals provided guidance on awards of attorneys’ fees.
In Czyzewski v.
